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Berjaya Land swings to loss in fiscal Q3

Berjaya Land Bhd. said its normalized net income for the fiscal third quarter ended Jan. 31 amounted to a loss of 3.4 million ringgits, compared with income of 9.9 million ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 0.2% from 0.7% in the year-earlier period.

Total revenue climbed 6.1% on an annual basis to 1.47 billion ringgits from 1.39 billion ringgits, and total operating expenses grew 5.8% from the prior-year period to 1.33 billion ringgits from 1.25 billion ringgits.

Reported net income came to a loss of 26.6 million ringgits, or a loss of 1 sen per share, compared to a loss of 19.7 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of March 24, US$1 was equivalent to 3.65 ringgits.